Parametric cost estimating, when properly used, is a very powerful and cost effective technique. Unfortunately, this technique is often misunderstood and rejected by many potential users for whom it could be a beneficial tool. The development of an agreement on how to use it and how to recognise its limitations is a major benefit to the cost estimating community.

From Product Description to Cost: A Practical Approach:

a [ presents different ways of parametrically forecasting costs, and the advantages and disadvantages of these methods by using real examples from the mechanical, software and building industries;

a [ discusses most of the mathematical procedures which are useful for parametrically forecasting costs;

a [ introduces the judgement needed to audit the ways in which these forecasting techniques are used, firstly as a process, and secondly as a tool to generate estimates.

Volume 1: The Parametric Approach contains four parts. Over the course of this volume, cost estimating is introduced; the preparation of data before utilization is discussed; the basic concepts of a ~generala (TM) cost estimating models are examined; the use of cost models is considered and finally, risk analysis (as it can be used during parametric cost estimating) is introduced.

Parametric cost estimating, when properly used, is a very powerful and cost effective technique. Unfortunately, this technique is often misunderstood and rejected by many potential users for whom it could be a beneficial tool. The development of an agreement on how to use it and how to recognise its limitations is a major benefit to the cost estimating community.

From Product Description to Cost: A Practical Approach:

a [ presents different ways of parametrically forecasting costs, and the advantages and disadvantages of these methods by using real examples from the mechanical, software and building industries;

a [ discusses most of the mathematical procedures which are useful for parametrically forecasting costs;

a [ introduces the judgement needed to audit the ways in which these forecasting techniques are used, firstly as a process, and secondly as a tool to generate estimates.

Volume 2: Building a Specific Model is divided into nine parts and focuses on the building of a ~specifica (TM) cost estimating models. These models explicitly refer to a a ~product familya (TM), and, as opposed to a ~generala (TM) models, any company (if properly organised) can build these models. Understanding the procedures is key in creating successful specific models; for this reason all these procedures are fully described in this volume. Classical methods and new ones (such as the "bootstrap") are described and illustrated.

Cost estimating is a powerful tool in industry and business. Anyone involved in cost estimating will find this book extremely useful because of the real life examples, which mean they can use the information in real situations immediately.

Cost estimating is a powerful tool in industry and business. Anyone involved in cost estimating will find this book extremely useful because of the real life examples, which mean they can use the information in real situations immediately.